Japan to Miss Target With $7.4 Billion Postal Stake Sale
- Government had originally planned to raise $8.4 billion
- Price in secondary sale is a 2% discount to Monday’s close
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The Japanese government will raise 843 billion yen ($7.4 billion) from the sale of Japan Post Holdings Co. shares -- about $1 billion short of its original target -- in the ongoing privatization of the postal and financial-services giant.
Shares in the secondary share sale were priced at 820.6 yen apiece, according to a statement, marking a 2% discount to Monday’s closing price of 837.4 yen.